Mario,a Minor,sells His Bicycle to Jimmy for $150

question 18

True/False

Mario,a minor,sells his bicycle to Jimmy for $150.A week later,Kelly,who does not know Mario,buys the bike from Jimmy for $200.Mario,upon learning about Jimmy's sale of the bike,disaffirms his contract with Jimmy.Kelly does not have valid title and must return the bike to Mario.

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Definitions:

Insurance Premium

The amount that individuals or organizations must pay for their insurance policies, covering a wide range of risks.

Risk Premium

The additional return expected by an investor for holding a risky asset rather than a risk-free asset, compensating for the extra risk.

Human Capital

The economic value of a worker's experience and skills, including factors like education, training, intelligence, skills, health, and other things employers value.

Financial Capital

Economic resources measured in terms of money used by entrepreneurs and businesses to buy what they need to make their products or provide their services.